Caruso Transforms its Cash Management Capabilities with Trovata
Automated Reporting Drives Strategic Analysis
Caruso is a privately owned, industry-renowned business. Over the past three decades, Caruso has created several extraordinary destinations in and around the Los Angeles area including The Grove and The Commons at Calabasas. Caruso is known for its combination of best-in-class real estate and five-star hospitality.
Headquarters
Los Angeles, CA
Founded
1987
Company Size
250
Industry
Real Estate
Challenges
Between all of its properties, Caruso has to manage its cash flow at scale, involving hundreds of bank accounts. With its bank data all over the place, hours of manual work and tedious preparation were required to make any small or large decision related to its cash management strategy and daily cash reporting was nearly impossible. The Caruso team sought in Trovata a convenient platform to serve as a single source of truth for cash management without the need for internal IT resources.
Solution
1. Centralized Bank Data
To date, Trovata has assisted Caruso in connecting its banks via direct APIs to aggregate its bank balances and transactions for multi-bank cash reporting & analysis. This has allowed Caruso to manage at scale across hundreds of bank accounts across all of its properties in one convenient platform without the need for internal IT resources.
2. Cash Visibility
As a modern big data platform, Trovata gives Caruso full visibility into its cash positions and operating cash flows. Some of its bank data is refreshed hourly, which allows the team to be more prepared and make faster decisions. Caruso is now able to focus on reviewing the data and taking action versus endless hours of manual work and tedious preparation.
3. Natural Language Search Tools
Trovata employs a powerful Search+TagTM capability using natural language, search operators, and filters, that lets Caruso categorize its bank transactions in a way that’s fast and easy to maintain. These user-defined cohorts become building blocks for the team to configure and automate its daily reporting.
Results
- Aggregation: Caruso can quickly connect multi-bank data to get cash visibility in real-time.
- Visualization: Caruso can obtain data-rich cash insights without the hassle.
- Automation: Trovata has eliminated many of Caruso’s tedious manual cash management workflows.
